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Senior citizen (housewife) - advance tax liability related

Tax queries 326 views 2 replies

Hello, 

A housewife (senior citizen) who is NOT having any business income but income only from FD and other capital gains such as Shares and mutual funds.. if she sells an immovable property and thus earns capital gains - 

in above scenario - is she liable to pay any ADVANCE Tax ? (she may not necessarily buy a house property within one year and prefer to pay tax on the capital gains realised)

thanks

Replies (2)
Senior citizens are exempted and not required to pay advance tax.
Taxes are required to be paid as self assessment before filing of return.

thanks a lot for reply


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